The Reserve Bank of New Zealand held its official cash rate at a record low of 0.25 percent during its February meeting, and left the Large Scale Asset Purchase (LSAP) Programme of up to $100 billion and the Funding for Lending Programme (FLP) operation unchanged. Policymakers agreed that the current levels of monetary stimulus were needed to meet the bank's consumer price inflation and employment targets over the medium term, as the domestic economic outlook remains highly uncertain due to the ongoing pandemic crisis. This uncertainty is expected to constrain investment and household spending growth. Looking ahead, the Committee reiterated that it remains prepared to provide more monetary stimulus if necessary and noted that the operational work to enable the OCR to be taken negative if required is now completed. source: Reserve Bank of New Zealand
Interest Rate in New Zealand averaged 7 percent from 1985 until 2021, reaching an all time high of 67.32 percent in March of 1985 and a record low of 0.25 percent in March of 2020. This page provides - New Zealand Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Interest Rate in New Zealand is expected to be 0.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in New Zealand to stand at 0.25 in 12 months time. In the long-term, the New Zealand Interest Rate is projected to trend around 0.50 percent in 2022 and 0.75 percent in 2023, according to our econometric models.